WealthBar partners with Assante Wealth Management to build a new online investing platform called Assante Connect. Plaid Inc said that Visa Inc and Mastercard Inc were strategic investors in a $250 million round of Series C financing raised in December. HiddenLevers will increase integration ties with SS&C’s Black Diamond Wealth Platform. Envestnet | Tamarac partners with Syracuse to provide reporting and trading technology services. St. James’s Place Wealth Management (SJP) has migrated from a legacy mainframe application to SS&C’s Bluedoor and Percana Insurance solutions. Rapport Credit Union’s licensed advisors will use the Wealthsimple Advisor Services platform.
Northern Trust launched a range of new client dashboards for its middle- and back-office technology platform for alternative fund administration. Vanguard is creating a new service for retail investors called Digital Advisor. Ally Financial Inc. announced new managed and self-directed investment offerings designed to clear the path for investors of all experience levels.
Vestmark has patented the trade order management system and methodology they developed. PayActiv became a Public Benefit Corporation, a corporation that performs a specific function for the benefit of the public.
WealthBar is partnering with Assante Wealth Management a new online investing platform for Assante’s clients. The new platform, called Assante Connect, will be built with WealthBar’s robo-advisor technology to pair portfolio managers with digital advice services.
Find details here.
Northern Trust has launched a range of new client dashboards for Omnium, its middle- and back-office technology platform for alternative fund administration. Designed to provide clients with greater transparency into workflows and metrics critical to efficient fund management, the web-based dashboards exemplify Northern Trust’s commitment to solutions that support alternative investment managers.
Find details here.
Vanguard is preparing to enter the digital-only advisor space for retail investors with an offering that will charge far less than its Personal Advisor Services, which combines digital advice with a human financial advisor. According to an initial disclosure brochure filed with the Securities and Exchange Commission, the service, called Digital Advisor, is a discretionary service that has the authority to trade on behalf of clients and maintain a mix of recommended investments based on what clients have communicated about their investment goals, risk tolerance, time horizon, tax status etc. Investors must set at least one financial goal in order to enroll. The service will be based on a “personalized, goal-based financial plan.”
Find details here.
To remove the barriers that hold many people back from either becoming invested or expanding their investments to help grow their wealth, Ally Invest, the online brokerage and wealth management arm of Ally Financial Inc. (NYSE: ALLY), announced new managed and self-directed investment offerings designed to clear the path for investors of all experience levels.
Find details here.
Financial technology company Plaid Inc said on Monday that Visa Inc and Mastercard Inc were strategic investors in a $250 million round of Series C financing raised in December.
The fintech startup, whose technology lets people connect their bank accounts to mobile apps like Venmo, did not disclose the size of Visa and Mastercard’s investment in a statement announcing the deal.
Find details here.
With the help of SS&C Technologies, the London-based St. James’s Place Wealth Management (SJP) has migrated its £69.1 billion ($86.3 billion) in customer accounts from a legacy mainframe application to SS&C’s Bluedoor and Percana Insurance solutions in an effort to give end-user clients a single view across pensions and savings products.
Find details here.
Vestmark announces that the U.S. Patent and Trademark Office has granted Vestmark team members U.S. Patent No. 10176523, for the trade order management system and methodology they developed. Heeren Pathak, Chief Technology Officer of Vestmark; Ladislav Kis, Principal Software Engineer at Vestmark; along with a former Vestmark employee, received the patent for inventing a trade processing mechanism which enables financial advisors and institutions overseeing portfolios across multiple client accounts.
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HiddenLevers, a leading technology provider serving the wealth management space, announced that it will increase integration ties with SS&C’s Black Diamond Wealth Platform, a premier portfolio accounting service provider for financial advisors. The expanded integration will provide registered investment advisor (RIA) clients enhanced business intelligence (BI).
Find details here.
Rapport Credit Union’s licensed advisors will use the Wealthsimple Advisor Services platform beginning in January 2020.
Advisors at the member-owned financial institution will have access to Wealthsimple’s suite of low-cost mutual fund and ETF portfolios, as well as back-office solutions that aim to simplify administrative and compliance tasks, according to a release.
Find details here.
Envestnet | Tamarac announced a partnership with Syracuse, N.Y.-based Rockbridge Investment Management to provide reporting and trading technology services. The technology will support Rockbridge’s goals for growth while simplifying back-end processes and improving client experience for the more than 750 families the firm serves.
Find details here.
PayActiv, a U.S.-based provider of employment-based holistic financial wellness services, announced on Wednesday it has become a Public Benefit Corporation, which is described as a corporation that performs a specific function for the benefit of the public. According to Safwan Shah, CEO of PayActiv, the move to become a Public Benefit Corporation gives us the platform to put people “alongside profits, aligning social goals with economic goals.”
Find details here.
